Cabana Capitals Blog Technical Analysis GBPUSD approaching resistance level

GBPUSD approaching resistance level

GBPUSD approaching resistance level post thumbnail image

GBPUSD is moving towards a resistance line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 12 days and may test it again within the next 2 days.

Supported by Upward sloping Moving Average

Target: 1.2949 Entry: 1.2929 Stop: 1.2921

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